Yahoo Sale Delayed
Posted by: Timothy Weaver on 01/24/2017 06:45 AM
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The sale of Yahoo to communications giant Verizon has been delayed for a few months.
Verizon has offered to buy the company for $4.8 billion as Yahoo announced final quarter earnings of $162 million.
"Yahoo has continued to work with Verizon on integration planning for the sale of its core business," the company said in a release.
The deal has been thrown into doubt due to the disclosure of two massive breaches in 2013 and 2014. The SEC's investigation is focusing on why it took Yahoo several years to reveal the 2013 and 2014 attacks.
The 2013 breach resulted in the theft of personal data of 1 billion accounts while the 2014 attack resulted in the theft of data of 500 million user accounts.
The company has stated that it is working on enhancing security. "Our top priority continues to be enhancing security for our users," Yahoo chief executive Marissa Mayer said. She added that "approximately 90 percent of our daily active users have already taken or do not need to take remedial action to protect their accounts, and we're aggressively continuing to drive this number up."
The breaches were a major embarrassment to the company and could affect the final sales price paid by Verizon.
Source: Security Week
Verizon has offered to buy the company for $4.8 billion as Yahoo announced final quarter earnings of $162 million."Yahoo has continued to work with Verizon on integration planning for the sale of its core business," the company said in a release.
The deal has been thrown into doubt due to the disclosure of two massive breaches in 2013 and 2014. The SEC's investigation is focusing on why it took Yahoo several years to reveal the 2013 and 2014 attacks.
The 2013 breach resulted in the theft of personal data of 1 billion accounts while the 2014 attack resulted in the theft of data of 500 million user accounts.
The company has stated that it is working on enhancing security. "Our top priority continues to be enhancing security for our users," Yahoo chief executive Marissa Mayer said. She added that "approximately 90 percent of our daily active users have already taken or do not need to take remedial action to protect their accounts, and we're aggressively continuing to drive this number up."
The breaches were a major embarrassment to the company and could affect the final sales price paid by Verizon.
Source: Security Week
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